1pm Share Discussion Threads

[sharesoc] 12/2/2018 18:00

1pm's presentation from our recent Birmingham seminar and their stockopedia report is available in our full member exclusive area: hxxps://www.sharesoc.org/members-area/

[davidosh] 01/2/2018 14:10

Just a reminder that 1pm plc will have a stand and be presenting at our huge Mello2018 event in Derby on 26/27th April and all shareholders and potential investors are welcome to attend

OPM attended and presented at our Mello2014 & Mello2015 events and Ian Smith the CEO and other members of the team will be there on the Friday in Derby

Do come and join us at this quality two day event.

[cheshire man] 25/1/2018 13:16

A bit perky today :-)

[davidosh] 16/1/2018 11:42

The Hardman note out this morning has pushed PBT higher

Year-end May (£000) 2015 2016 2017 2018E 2019E
Revenue 5,534 12,554 16,944 29,596 32,946
Cost of sales (2,503) (4,480) (6,094) (9,849) (10,820)
Admin. expenses (1,394) (4,290) (6,469) (10,834) (11,983)
Operating profit 1,637 3,418 4,121 8,619 9,822
Pre-tax profit 1,620 3,346 4,080 7,946 9,048
Adj. EPS (p) 3.7 6.5 6.5 7.9 8.3
Total receivables 24,991 56,061 73,955 150,893 169,000
Shares in issue (m) 36.9 52.5 54.9 86.4 88.4

So they now expect full year ptp to be £7.95m this year and £9.05m next year giving adjusted eps of 7.9p then 8.3p.....This company really should not be on a p/e of 6.5 if they manage to grow eps by nearly 24%

[davidosh] 16/1/2018 11:20

Do not forget they made a couple of acquisitions after the start of the financial year so the full effect of those will be in H2
Hardman have made their research available via RNS so easily accessible

Yr end May (£000) 2015 2016 2017 2018E 2019E
Revenue 5,534 12,554 16,944 29,596 32,946
Cost of sales (2,503) (4,480) (6,094) (9,650) (10,604)
Admin expenses (1,394) (4,290) (6,469) (11,034) (12,201)
Operating profit 1,637 3,418 4,121 8,621 9,825
Pre-tax profit 1,620 3,346 4,080 7,883 8,971
Adj EPS (p) 3.7 6.5 6.5 7.8 8.2
Total receivables 24,991 56,061 73,955 145,123 162,538
Shares in issue (m) 36.9 52.5 54.9 86.4 88.5

They are totally guided and paid for by the company so one would hope they have a good idea of the flow through from the acquisitions.

They forecast/expect ptp to be £7.88m this year and £8.97m next year giving adjusted eps of 7.8p then 8.2p

[my retirement fund] 16/1/2018 10:50

Looks like it got ahead of itself.

[welsheagle] 16/1/2018 10:47

1pm

16 Jan 2018 10:18:32



1PM PLC



RNS Number : 0064C

1PM PLC

16 January 2018




Hardman Research: Interim results: delivering value-added strategy

Interim results: delivering value-added strategy - The results confirm 1pm is on track to deliver the substantial profit growth the market expects. We believe greater confidence in delivery will be a trigger for re-rating as the current May 2019E P/E of 6.5x and P/B of 0.8x are inconsistent with a profitable, growing company. The results also confirm impairment losses, although rising modestly, remain well controlled and more than priced into lending, and that provisions coverage is increasing. Funding continues to be well diversified and the average cost of funds is down nearly a third. We expect the second half to show a continuation of these trends, together with more integration benefits.

[speedsgh] 16/1/2018 10:34

Latest Hardman & Co research note...

Interim results: delivering value-added strategy -

[maiken] 16/1/2018 08:57

difficult to see them meeting Cenkos current forecast 7.1p eps for the year with a further increase in average shares in issue still to come through.I'm guessing there will be a downgrade [altho' the ptp forecast of £6.3m looks very achievable.Did cenkos c*ck up their 'shares in issue'calculation?]

[shanklin] 16/1/2018 07:47

Difficult to get excited by

"Basic earnings per share increased 4.9% to 3.23p (H1 2016/17: 3.08p) despite a significant issue of shares in the period

[masurenguy] 16/1/2018 07:43

RNS Number : 9467B
16 January 2018

INTERIM RESULTS FOR THE SIX MONTHS 30 NOVEMBER 2017

Strong trading momentum maintained. Further organic and strategic growth delivered.
Revenues and profits both up by more than 70% in the first half.
Positive outlook for the full year.

The Interim Results reflect the success of the Group's buy-and-build strategy providing financing products to UK SMEs, being asset finance (finance leases, operating leases and hire purchase) for hard and soft assets, vehicles finance (on a broked-on basis), commercial loans and invoice finance.

Financial Highlights:

-- Group revenue increased 74% to £13.9m (H1 2016/17: £8.0m), including organic growth of 23%

-- Group profit before tax and exceptional items increased 77% to £3.6m (H1 2016/17: £2.0m), including organic growth of 34%

-- Basic earnings per share increased 4.9% to 3.23p (H1 2016/17: 3.08p) despite a significant issue of shares in the period

-- Net Assets at 30 November 2017 increased 56% to £44.5m (31 May 2017: £28.5m)

-- Net bad debt write-offs in the period were £0.7m, representing 0.5% of total receivables at period end (H1 2016/17: £0.3m, representing 0.4%)

-- At period end, total bad debt provisions were £2.1m (30 November 2016: £1.2m).

Operational Highlights:

-- Combined new lease, hire and loan origination amounted to £56.3m (H1 2016/17: £27.2m), an increase of 106%

-- Flexibility maintained to either fund on 'own-book' or generate cash commissions from broking; approximately 55% of new lease and loan contracts were broked-on for commission income (H1 2016/17: 24%).

-- The combined 'own-book' assets, loans and invoice finance portfolio increased 45% to £130.1m (31 May 2017: £89.5m)

-- Funding facilities of £137.0m available to the Group at 30 November 2017 (31 May 2017: £74.5m).

-- Blended cost of borrowings fell to approximately 3.8% (year to 31 May 2017: 5.3%).

-- Integration and cross-selling progress at each entity is in line with operational expectations and objectives set by management.

The Interims consolidate the results of the entities included in the comparable prior period results, namely 1pm (UK) Limited ("Onepm"), Academy Leasing Limited ("Academy") and Bradgate Business Finance ("Bradgate"), plus the entities acquired in 2017, Intelligent Financing ("iLoans"), Bell Finance Limited (now integrated into Bradgate), and the two companies that form the commercial Finance arm of the Group, Gener8 Finance Limited ("Gener8") and Positive Cashflow Finance Limited ("Positive").

Commenting on the Interim Results, John Newman, Non-Executive Chairman, said:"The Interims demonstrate the successful implementation of our stated strategy of being a multi-product provider of finance to UK SMEs and continue the trend in recent years of profitable organic and strategic growth. The significant growth in the period has been achieved whilst holding our price, controlling credit and spreading risk. The Board is committed to further increasing shareholder value through the stated strategy and looks forward to the second half of the financial year with optimism."

[tomps2] 16/1/2018 07:34

Video: 1pm plc (OPM) Results interview: CEO Ian Smith and CFO James Roberts present the groups’ interim results for the period ended 30th November 2017
c. 7mins



Ian Smith – Introduction & brief overview of 1pm – 00:23
James Roberts – Financial highlights – 01:26
James Roberts – Continuing growth – 02:54
Ian Smith – Continuing the strategy – 03:36
James Roberts – Funding facilities – 04:43
Ian Smith – Summary & Outlook, 06:01

[obi_trader] 15/1/2018 17:32

davidosh, so you are relying on hope?

[davidosh] 15/1/2018 15:58

If OPM need cash (and have equity raisings) as the fuel for the growth of the business why would they want to pay out shareholders a large dividend ? Surely better to build the business cost efficiently and then sell it to a trade buyer and give shareholders the big capital gain hopefully OR when growth is no longer possible they then pay big dividends !

[obi_trader] 15/1/2018 10:02

Masurenguy red_shed2000, yes that great small div (latest 0.5p), is nothing, which was my point, for a finance company that offers financing to other sme's that div is minuscule and quite derisory

[owenski] 15/1/2018 09:13

Results tomorrow. Still cheap on metrics IMO

From the most recent update - Dec. 2017

[masurenguy] 15/1/2018 08:09

obi_trader 15 Jan '18 - 839: a finance company that doesnt pay a dividend to its shareholders? how does that work???

Check the facts first - OPM has paid a small dividend for the past 2 years !

[red_shed2000] 15/1/2018 08:03

Errrr,it does pay a dividend?!

[obi_trader] 15/1/2018 07:33

a finance company that doesnt pay a dividend to its shareholders? how does that work???

[cheshire man] 12/1/2018 16:20

Good timing for you masurenguy:-)

[owenski] 12/1/2018 15:49

This year then, I see you've edited your post.

[owenski] 11/1/2018 13:40

"6th February next year"..... Or this year????

[davidosh] 11/1/2018 13:33

A reminder...

1PM are lined up to present at the ShareSoc growth company seminar in Birmingham on the 6th February and more details/ registration here:

I will be on a panel of investors for a Q&A at that event too. It is free to attend and the first of its kind in Birmingham so do try to get along. There are 22 places left and free buffet & drinks too

[masurenguy] 11/1/2018 11:33

Pleased to see that the price is up 23% since I made my last top up @44.7p some 7 weeks ago. :o)